Amazing budgeting and reporting tool!
September 18, 2015
Amazing budgeting and reporting tool!
Score 10 out of 10
Vetted Review
Verified User
Software Version
11
Modules Used
- G/L Reporter
- workflow manager
Overall Satisfaction with Prophix
We use Prophix for all of our top level financial reporting, department expenditures, market and branch profitability reporting, and budgeting. We used to budget by deploying multiple spreadsheets to managers followed by a large consolidation effort and a lot of manual data entry and since using Prophix, the whole process is streamlined with the easy to use workflow manager. We recently went through a large merger and brought our sister company onto Prophix where we now consolidate our financial statements globally with ease.
- Report writing is very similar to Excel so creating custom reports is an easy task. Selecting the data to be used in reports is very clear and easy and can provide data in multiple ways that our standard ERP system could not provide.
- Workflow manager is easy to set up and extremely beneficial to budgeting. It deploys tasks directly within Prophix, monitors and reports on the status, and makes the approval chain clear and easy.
- Uploading data into Prophix takes only minutes. It is extremely efficient.
- The database grows quickly once you start using multiple versions for budgeting and rebudgeting. This does slow down processing of large reports, which can be frustrating.
- While editing a report utilizing a lot of dimensions and formulas, Prophix often freezes, though the changes are usually saved when you reopen (if you hit the save icon). This can make writing complex reports a bit cumbersome.
- I wish there was more flexibility to add dimensions of data to existing models.
- Increased efficiency and faster processing in budgeting.
- Streamline reporting process
- More flexibility in management reporting